The Nigerian Stock Exchange has included the United Bank for Africa Plc, Ecobank Transnational Plc and Skye Bank Plc in the stock market as market makers.
A statement from the exchange said that addition of the three stocks is in tandem with the promise made by the exchange that all the stocks quoted on the exchange that are trading above par value will be added to the market making programme over a period of six months.
The nation's stock market has been reacting positively since the commencement of market making on the Nigerian Exchange.
For instance, the market capitalisation and All-Shares Index that stooped at N8.077 trillion and 25,373.83 respective on the eve of the commencement, stood at N8.628 trillion and 27,077.66 at the close of trading activities on Monday, representing an increase of 6.8 per cent.
According to the statement, "the initiative which kicked off in September 2012 with 16 stocks, had nine other stocks added two weeks back. The additional three stocks now bring the number to 28."
The stocks covered by the initiative now are PZ Cussons Nigeria Plc, Nigerian Bag Manufacturing Company Plc, Presco Plc, International Breweries, Lafarge Wapco, Fidson Healthcare Plc, Redstar Express Plc, Zenith Bank Plc, Sterling Bank Plc, D.N.Meyer, Diamond Bank, FCMB, Fidelity Bank Plc, Nigerian Breweries Plc, Guaranty Trust Bank Plc and UAC Nigeria Plc (UACN).
Others are Access Bank, Academy Press, Custodian & Allied Insurance, First Bank Plc, Dangote Sugar Plc, Union Bank Plc, NASCON and Nestle Nigeria Plc as well as AIICO Insurance Plc and the three newly added ones.
